Interbank call rates were trading at two years high of 15/15.50% against Monday’s close of 7.70/7.75% on account of sudden spike in demand from borrowing banks to fulfill their fortnightly obligation amidst tight liquidity in the banking system.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 19983 crore through repo auction and parked Rs 29809 crore through reverse repo auction on March 30, 2015.
The overnight borrowing rates touched a high and low of 16% and 8.50% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 9.12% on Tuesday and total volume stood at Rs 19511.26 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was at 9.91% in Tuesday and total volume stood at Rs 21863.25 crore, so far.
The indicative call rates which closed at 7.70/75% on Monday were contributions made from Andhra Bank, AXIS Bank, Bank of America, Bank of Baroda, Bank of India, Canara Bank, J P Morgan Chase, Citibank N.A., Corporation Bank, Credit Agricole Bank, Indusind Bank, ICICI Bank, ICICI Securities, IDBI Bank, Jammu and Kashmir Bank, Punjab National Bank, RBS, Societe Generale, Standard Chartered, so far.
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